Here’s one visual of what laine was explaining in his reply to you yesterday.
Daily chart identifying the upper & lower areas of interest during September ready & waiting for the next time price decides to revisit for a call.
If you’re only using a 5 minute chart to enter once price begins moving into (or out of) an area you’ve identified & highlighted ahead of time as potential trade probability, then waiting until the 5min begins displaying lower high behaviour is one option you have available to you.
It might also increase the probability of success if you trigger inside the european trading session as this is usually the period when this pair attracts maximum participation.
Examples of likely entry criteria based on laine’s & Master Tang’s suggestions on the 2 days in question.
It’s just one example of a tactic you might play in these types of typical scenario, but presumably you’ll already have a plan & an idea of how you want to execute based on your risk attitude, preferred style & trading objectives.
First of those revisit opportunities on the 17th.
Another potential bite of the cherry the following day, both keying into that prior zone identified from back in September with this one adding a little extra confirmatory spice.
HEy Laine and Catcher, thanks so much for the replies. Greatly appreciate it! I understand what you are saying now, just needed to see it on a chart. But my next question is, to draw the zones on the daily or lets say an hourly if I choose, how do you guys go about drawing the zones highs and lows?
From what I have been reading abour supply and demand, you look for a base, a sideways move and then look for price movement away from the consolidation area. But i SEE ON YOUR GUYS CHART, you just draw the zones from wicks, is there a science to this or is it subjective? Main question is what should I be looking for to draw a zone from high to low?
The main focus of the material presented by these guys pivots around identifying prior areas & zones of support & resistance that is used as landmarks or fulcrums as price weaves it’s way from point A to point B.
The primary objective is to recognize when price is exhibiting signs of developing a directional tone, calibrating the appropriate risk, getting seated & aiming for the next obvious zone/area of S&R, where the next decision will be made to pare out, add in or fully exit dependent upon the objective for the trade.
The technical description for supply or demand is hazy or cloudy at best, depending on where you read it & who is presenting it.
A strong imbalance (one or more bars/candles) at a particular level indicates the order book is weighted heavily in favor of one side, or there is a distinct lack of contrary orders.
The result of that top heavy imbalance would be a sharp & aggressive move away from a level & you would be seeking a repeat of the directional behavior next time it revisits, providing of course the imbalance still exists.
As opposed to price moving into a prior area of support/resistance, where if there exists a large build-up of contrary orders into a possible resistance zone for instance (offers tiered into & above the zone/limits/buy stops above the outer edge of resistance/trailing profit & sell stops leading into the zone) you would expect price to slow & consolidate whilst it absorbs the orders before the majority camp orchestrates the next leg (up or down).
Although each carry their own specific characteristics they can actually be traded in similar fashion if you’re looking to long/short out of the area via pullbacks.
As for plotting the relevant zones, there are multiple examples of this contained within all 3 threads. Just revisit the posts to see how they’re plotted.
Basically, S&R is identified as a zone as opposed to an exact line, which encompasses both wicks & bodies, signifying & illustrating an area where contrary price action was absorbed & prioritized according to the dominant bias.
Sometimes it will result in a sharp, aggressive pop out of the area, sometimes it will be a more sedate, slow trudge.
Like I said, it’s all there inside the thread(s) including the reasons for plotting them, the story leading into & out of the significant zones & even recommendations for managing the moves according to the individual traders objectives.
If you want to see many more recent examples of the structure in operation, most of them, including bias & entry intentions (plotted & framed before the fact/ahead of time), hit up the link in kyle morgan’s post #823 & work from the last page back.
Hey man, thank you so much for the insight and advice! I will take a look at the post. Catcher thanks Bro! Hopefully it all makes sense when Im done reading.
The trusty old 1-2 combination punch (higher timeframe lead/lower timeframe trigger) certainly paid above average dividends today again on the flaky old euro!!
Hello to everyone.
I am new to the forum, and happen to come across this thread, and thought I should join in!
But first, is anyone still using this strategy with the longer timeframes? like the 4H and Daily, and maybe the 1H?
If so, how do you all go about with it, what time frames do you all use? and what is your entry trigger?
Sorry for being such a novice!! Hope you guys can share with me
Hello Tallus. I’m not a active member of this thread. But i study revise this thread time to time. It’s actually Gold. Even though you don’t find anyone posting in here, it doesn’t mean the method is not working. It’s the price action trading, so no matter what, it work’s all the time.
The longer the timeframe’s, the accurate the signals will be and you can use the smaller timeframe’s for entry purposes.
Go through the whole thread and you’l understand much of it.
Tallus,
I echo gs8888’s advice. Take your time & work through the thread.
It’s a template that lays down some key levels which are referenced & respected right across multiple timeframes & durations.
The approach can be traded on any timeframe or combinations thereof & across any instrument or asset base.
The cycle sequence they major on (higher highs & higher lows + lower highs & lower lows) is a logical, common sense universal & multi-functional price action view that gets you in & gets you out of the market when the rhythm dictates based around your individual risk attitude & trade objectives.
Most everything you need is right here in the material.
You can pick it up & transport it onto any frame of reference you like & they even include a couple set up trigger alternatives to get you up & running.
In the first thread Alternative techincal templates, I see that most of the member’s discuss James 40-100 pip thread. I couldn’t find that thread elsewhere. What exactly is that method based off ? PA ? could anyone locate it ?
That thread was deleted for copyright reasons more or less. There was nothing in that thread that you needed anyway, the ATT threads contain everything including what could be found in James thread.
Apparently it discussed a short timeframe based price action trigger that pivoted around the stochastic indicator.
The guy presenting it got a pretty bad rap on here for allegedly lifting it from some marketing guru or other, & he didn’t really utilize it to its maximum potential.
The concept actually goes way back & has been copy & pasted onto a multitude of different technical models, but Carll & one of Tess’ software development team took it a stage further, testing various permutations & parameters, eventually refining it into a workable template that keyed off an hourly based directional cycle bias.
The end result being a stochastic hook trigger which is one of 2 multi-timeframe entry trigger options keying off very specific momentum set ups.
There are some examples of it on here in its early format.
Carll altered it last year & has further refined this year to better fit/match the current technical layout, but it’s still a reasonably reliable confirmation aid in it’s original format when referencing directional bias influenced pullbacks via sub hourly timeframes.
He is but he won’t be around until Thursday (gmt) afternoon Matt.
I’ll leave a message to look in as they’ve all unsubscribed from thread reply prompts.
The hook trigger you’re referring to is highlighted & presented within the contents of the thread, but I can’t locate the second one. Is it on here anywhere? & if not can I cheekily ask if you’re willing to discuss & show any examples of it in action & the specific momentum setups it/they correspond to?
This question relates to minor pullback breaks. Once price pops out of a level the approach is to drop to a micro-timeframe and seek ledges in the momentum of the move and engage of breaks of these pullbacks. (see graphic below)
I’m assuming that your stop placements for these fast entries to the market are above the consolidation ledge, rather than back above the breakout zone. So in this 1 min example your stop would be at 1.2960 rather than 70 (above break) or 80 (above the swing).
There are set ups & triggers related to very specific & repetitive technical plays that weren’t ever shared here compact, so not submitting that particular one isn’t really anything out of the ordinary.
The hook trigger when applied with a disciplined approach, in a higher probability context, is a very effective & robust tool.
Just this week, those trading the correct structural (long only) background + simple trigger on eur/usd have deposited between 7.5 & 10% profit into their accounts (proofed to us) with minimal initial risk & effort. I noticed a few more proofing between 11 & 12.5% using the same combo trading euro crosses when I checked today.
All those bets were triggered by patiently waiting for the foreground elements to line up with the background bias. And those are very common & consistent scenarios associated to just that one individual primary/secondary set up combination.
Do the simple & basic things well, don’t overcomplicate it & resist the urge to short-circuit a well drilled, disciplined approach.
Hi Matt.
Nice to see you’re still around & cutting out your groove!
The question you need to ask yourself, & continue to always ask, is whether the risk stop (wherever that may be or is called for) is sufficiently comfortable & practical for your requirements to engage under those specific conditions, because each opportunity will bring differing variables into play each time you consider placing a bet.
You will (or certainly should) obviously be triggering with a consideration for the background scenario leading up to the entry & you’ll have precise objectives for entry, initial and/or ongoing management & conclusion of the bet.
If what you’ve highlighted above represents a typical execution profile for you, then I’m presuming you’ve recorded the success of that risk measure & outcomes in your plan conclusions.
As you’ll know from the content, the success of some of these breakout moves (& whether or not we choose to engage) will very much depend on what’s influencing the price action leading up to the event & what phase the market is currently trading under.
Not all technical opportunities are created equal.
That’s a very important point & one worth highlighting.
It seems such a simple element of a typical trade plan doesn’t it, but how many times I wonder is it actually adhered to.
The word you’re looking at there is selectivity.
If you use that in tandem with logic & a well drilled structure you won’t get into too much trouble Matt.
I can see from reading those comments that you appear to be well in control of things, including not getting side tracked or distracted.
That’s fair enough. But if you don’t ask you don’t get.
I was just intrigued what other set ups & triggers you guys have up your sleeves. If they’re anywhere near as enjoyable to trade as this one, then those people trading them are extremely lucky.
You’ll get no arguments from me on that score.
I began testing & trading that setup last summer alongside another intraday strategy I use when I first interacted with AltTab, laine & catcher on here & they kindly expanded on a few points I raised.
Im thoroughly satisfied with the results & agree with what Matt say’s about being selective with its usage.
I find it works best for me when price begins to open out on the 60 & 15 minute charts. Breakouts of temporary trend exhaustions or corrections that click back into impulse moves are also some of my favourite applications, this week’s price action on NZD/JPY being a very good example of that.
You guys provided some excellent material to this place, so thank you for that.
Did carll post somewhere his reasoning or explanation of the stochastic hook? I have looked for it but all I find are some making reference to it or discussing it in some way; I would like to find carll’s original post if possible. I wonder if maybe it is in one of the other Tech. Tepl. threads. Hope someone can help, thank you, dobro
I think it got deleted with a bunch of stuff a while back dobro.
It’s basically just something he developed & utilized via a combination timeframe approach as a potential pullback/continuation heads up on sub hourly timeframes when prices are cycling in trend mode.
So for instance the 240 or 60 minute chart (depending on your style, risk profile & preference) has to be cycling up or down printing at least a couple of higher highs/higher lows or lower highs/lower lows.
Once a trending cycle has been identified the option exists to drop down into a sub hourly timeframe of choice (either a 15 or 5 minute) & wait to trigger pullbacks that correspond with extreme stochastic hooks moving in the direction of the dominant trend.
So, only triggering entries hooking up off 20 whilst prices on the hourlies are cycling bullish & hooking down off 80 whilst prices on the hourlies are cycling bearish.
Time of day & available daily range coverage are also referenced in order to offer higher continuation probability.
That’s it in a nutshell.
Nothing too complex, just a logical use of a couple of technical price aids.
